Kering, one of the largest luxury groups on the planet, has made financial commitment to fight racism, with contributions to the NAACP and to Campaign Zero – following eight days of protests in multiple American cities.
Bernard Arnault, Europe’s richest man, has acquired a one-quarter stake in Arnaud Lagardère’s holding company, in a move that will be seen as an attempt to support the family of his fellow French billionaire.
M&S has plans to hibernate some of its SS20 stock as it reveals a big sales hit due to the pandemic. But the firm is upbeat and says Clothing & Home is progressing, even though fashion retail will change post-crisis.
M&S could be the latest retailer to put part of its SS20 line into ‘hibernation’ until SS21. Ahead of its results announcement on Wednesday, it has emerged that basics and classics could be on store rails next spring.
Farfetch saw its revenue almost doubling in the first quarter as lockdowns meant online was the only option for luxury fashion shoppers. The firm remains loss-making but says it's still on target for profits next year.
The New York-based owner of brands including Umbro, Lee Cooper and Ecko Unltd. announced a net loss of $21.5 million for the first quarter on Tuesday, down from income of $17.9 million in the prior-year period.
A group of fashion CEOs, retailers and designers, including luminaries like Dries Van Noten, Tory Burch and Craig Green, have called for a major rethink in fashion deliveries and greater sustainability in an open letter.
The Greensboro, North Carolina-based owner of the Lee and Wrangler denim brands announced on Thursday lacklustre first quarter results, as the Covid-19 pandemic had an adverse affect on the firm's revenue and beyond.
Neiman Marcus Group filed for bankruptcy protection on Thursday, marking one of the highest-profile collapses yet among retailers forced to temporarily close stores in response to the COVID-19 pandemic.